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☆ Ikea's fleet of 250 autonomous drones takes stock of warehouse inventory without any human intervention
▼ + stars: | 2024-09-20 | by ( John Kell | ) www.businessinsider.com time to read: +9 min

Three years ago, a drone took flight at an Ikea warehouse in Switzerland for the first time. They're more self-sufficient, too: For every 10 minutes that a Verity drone is in flight, it charges for 20 minutes. Ikea's investments in Verity's drone technology fit into its broader strategy to explore and test newer supply-chain technologies. Jönsson added that deploying drones has allowed employees to have more time for analyzing inventory data. Before using warehouse drones, workers would check thousands of pallets repeatedly in order to manage inventory.

Persons: Verity, —, Raffaello D'Andrea, — there's, Uber, Jeff Bezos, Bezos, Domino's, there's, DroneUp, D'Andrea, Verity hasn't, it's, Moller, Erik Jönsson, they're, haven't, Jönsson Organizations: Ikea, Chain Management, Service, Amazon, Walmart, Companies, McKinsey & Company, McKinsey, Ikea's, Ingka, Maersk, Samsung Group, Ingka Investments, Nvidia, Federal Aviation Administration, Investors, Kiva Systems, Amazon Robotics, Qualcomm Ventures, A.P, Moller Holding, Exor Ventures Locations: Switzerland, Swiss, Dutch, —, Zealand, Arizona , Florida, Utah, Dallas

☆ How Costco is expanding e-commerce on 3 fronts and what's next for the record-high stock
▼ + stars: | 2024-06-10 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Everybody, including Costco, is chasing Amazon, which accounts for 45% of all U.S. e-commerce sales, according to JPMorgan in a research note Monday. While unlikely to compete at the level of Amazon or Walmart online in the near future, Costco could carve out a lucrative e-commerce lane with its loyal, value-orientated customers. Engaged members want to spend more online at Costco "given the value/quality and cash back," the analysts added. Costco has an "incredible opportunity to better target customers and leverage its rich database of perfect data and is still in its early innings" of e-commerce, JPMorgan said. Adding to the e-commerce story, JPMorgan cited the Costco Logistics network, which has amped up "e-commerce fulfillment of bulky items."

Persons: Jim Cramer, Morgan Stanley, Gary Millerchip, Instacart, Jim Cramer's, Jim, John Keeble Organizations: Costco, JPMorgan, Walmart, Amazon, Target, Kroger, Costco Logistics, Logistics, CNBC, Lakeside, Getty Locations: Grays, United Kingdom

☆ American Eagle profit soars, but sales grow slower than expected
▼ + stars: | 2024-05-29 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

An American Eagle Outfitters store in New York, US, on Monday, May 27, 2024. American Eagle Outfitters Inc. is scheduled to release earnings figures on May 29. American Eagle on Wednesday said it's making gains in boosting profitability as it works to improve its product assortment and tweak operations. During the fiscal first quarter, American Eagle grew its gross margin by 2.4 percentage points. It recently implemented a new store design for American Eagle, which is "outpacing the balance of the chain," said Foyle.

Persons: it's, Mike Mathias, Jennifer Foyle, Foyle, we've Organizations: American Eagle Outfitters, American Eagle Outfitters Inc, Wall, LSEG, Eagle, Finance, CNBC, Federal Reserve Locations: New York

☆ A new Walmart in-store AI is giving employees advice on how to sell products before it's too late
▼ + stars: | 2024-04-30 | by ( Michelle Castillo | ) www.cnbc.com time to read: +6 min

The internally developed AI technology allows Walmart employees to scan produce like bananas to see how ripe the product is. Many clothing items are not recyclable, due to being made of blended fabrics. U.S. residents also discard about 11.3 million tons of clothing waste each year, according to Earth.org. Walmart isn't alone in using AI to tackle in-store waste, as several startups are creating tools to solve this growing problem. "When it comes to food waste, there is no silver bullet," said ReFED's executive director Dana Gunders, which has worked with Walmart for a few years on food waste solutions.

Persons: it's, Swati Kirti, Kirti, It's, UCLA Anderson, Sravana Karnati, Dana Gunders, Homer Swei, Swei, Karnati Organizations: Walmart, Walmart International Tech, UCLA, Walmart International Technology, Walmart Global Tech, Retailers Locations: Canada, U.S, United States, Mexico

☆ Amazon CEO Andy Jassy says he's committed to cost cutting while investing in AI in shareholder letter
▼ + stars: | 2024-04-11 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +41 min

This work diminished short-term revenue, but was best for customers, much appreciated, and should bode well for customers and AWS longer-term. We're also making progress on many of our newer business investments that have the potential to be important to customers and Amazon long-term. Being intentional about building primitives requires patience. Customers building their own FM must tackle several challenges in getting a model into production. Customers' AI models contain some of their most sensitive data.

Persons: Andy Jassy, Jassy, Jeff Bezos, he's, we've, Martha Stewart, Clinique, we're, We've, bode, We're, I've, iterating, We'd, we'd, Fox, affordably, you've, They're, Anthropic, that's, Claude, Dana, debugs, Slack Organizations: Amazon, Services, AWS, Deal, Prime, MGM, Savings, Regions, Citadel, Target, Storage Service, Netflix, Disney, Max, Paramount, CIA, . Intelligence, Amazon Freight, Carrier, Amazon Shipping, Foods, Drones, Amazon Pharmacy, Amazon Clinic, Robotics, Nvidia, Ricoh, NatWest, FMs, Meta, Bridgewater Associates, Farber Cancer Institute, Delta Air Lines, Intuit, KT, Lonely, LexisNexis, Netsmart, Pfizer, PGA, Rocket Companies, Siemens, Media, Inc Locations: North America, U.S, Europe, India, Brazil, Australia, Mexico, Middle East, Africa, Malaysia, New Zealand, Kingdom of Saudi Arabia, Thailand, Berlin, Hulu, Amdocs, Genomics England, GoDaddy, GenAI

☆ Dollar General is taking a key strategy from Costco as it aims to lower costs
▼ + stars: | 2024-03-21 | by ( Dominick Reuter | Alex Bitter | ) www.businessinsider.com time to read: +5 min

Dollar General is sharply reducing the selection of products it sells in order to cut costs. The discounter previously stocked about 12,000 unique items, referenced by SKUs. AdvertisementSome Dollar General shoppers may see their favorite items disappearing from shelves as the discount retailer looks to control inventory costs. The move inches Dollar General closer to Costco's time-tested strategy for finding savings through simplicity — the wholesale club famously keeps its SKU count to around 4,000 in its warehouses. Last summer, Dollar General took a $95 million inventory write-down as it cleaned those stores up.

Persons: SKUs, —, Todd Vasos, there's, Neil Saunders, Vasos, didn't, Gina Goetter Organizations: Costco, Service, Walmart, Aldi, Hasbro

☆ Temu has officially opened to US-based sellers in a strategy shift that could help it compete more closely with Amazon
▼ + stars: | 2024-03-15 | by ( Madeline Stone | ) www.businessinsider.com time to read: +4 min

Read previewTemu has opened its marketplace to sellers with US-based warehouses, marking a shift to its strategy that has focused on shipping orders from China. Business Insider previously reported that US Amazon sellers were largely eager to try selling on Temu once it was made available to them. Offering faster shipping options could help Temu to better compete with US e-commerce incumbents like Amazon. The company's use of de minimis shipments has gotten increased attention from US lawmakers as of late. Shein, another China-linked e-commerce marketplace, also began onboarding US merchants last year.

Persons: —, Temu, Brightever, Bernstein, De minimis, Earl Blumenauer, Neal Dunn, Dan Bishop, Shein Organizations: Service, Pinduoduo Holdings, Business, US, US Customs Locations: China, Palm Springs, Las Vegas

☆ Ex-Amazon engineers lose 6-figure 'Shark Tank' deal off 1 blunder: 'That's the biggest mistake startups make'
▼ + stars: | 2024-03-11 | by ( Ashton Jackson | ) www.cnbc.com time to read: +2 min

They still couldn't land a deal on Friday's episode of ABC's "Shark Tank" due to making what billionaire investor Mark Cuban referred to as "the biggest mistake startups make": trying to grow their brand too quickly. Skaloud and Feiereisen co-founded Boona, a Seattle-based company that makes a $249 showerhead called the "Tandem." "We want to build a brand," Feiereisen said. "Some of the greatest deals in 'Shark Tank' history [are] when the entrepreneur focused on that one application and maxed it out." And if we do create new products, it's to support Tandem," Feiereisen said, trying to reel investors back in.

Persons: Brett Skaloud, Jeff Feiereisen, Mark Cuban, Feiereisen, Kevin O'Leary, Skaloud, I'm, O'Leary Organizations: Amazon Locations: Seattle, Cuban

☆ How Hermes Became the Ultimate Status Symbol
▼ + stars: | 2024-02-24 | by ( Madeline Berg | ) www.businessinsider.com time to read: +11 min

Now, its shares are also hot commodities, with their performance outpacing bigger luxury brands like Louis Vuitton owner LVMH and Gucci-maker Kering. "The curse of retail is everyone chases more," Simeon Siegel, a senior retail analyst at BMO Capital Markets, told Business Insider about luxury brands. "Brand equity is much more diluted than Hermès'," Herzog said of brands like Gucci and Louis Vuitton. Hermès is 'fairly recession-proof'Keeping it simple has helped Hermès hold its own as luxury brands start to lose their shine after a multiyear spending boom. It also announced it will expand the Saint Junien facility in New Aquitaine (also France) which makes Kelly and Birkin bags.

Persons: Hermès, Louis Vuitton, LVMH, Kering's, hasn't, it's, Axel Dumas, Simeon Siegel, Siegel, Birkin, —, waitlists, Edward Berthelot, there's, Hitha Herzog, Nicole Pollard Bayme, Kelly, Versace, Herzog, Gucci, Saint Laurent, Bernstein, Luca Solca, Chanel, Solca, Winston Chesterfield, Barton, That's, Williamsburg , Brooklyn —, Axel, Pierre, Alexis Dumas —, Bernard Arnault's LVMH, Dumas, Barton's Chesterfield, They've, Cousins Axel Dumas, Alexis Dumas, Rodrigo Vaz, Thierry Hermès, they've, We're Organizations: BMO Capital Markets, Capri Holdings, North, Gucci Locations: Hermès, London, China, France, Louviers, Ardennes, New Aquitaine, Aspen , Colorado, Naples, Florida, Nanjing, Princeton , New Jersey, Williamsburg , Brooklyn

☆ How Hermès became the ultimate status symbol
▼ + stars: | 2024-02-24 | by ( Madeline Berg | ) www.businessinsider.com time to read: +11 min

A cashmere throw blanket splashed with the letter H. For years, Hermès' iconic products have been coveted by those in the know. Now, its shares are also hot commodities, with their performance outpacing bigger luxury brands like Louis Vuitton owner LVMH and Gucci-maker Kering. "Brand equity is much more diluted than Hermès'," Herzog said of brands like Gucci and Louis Vuitton. Hermès is 'fairly recession-proof'Keeping it simple has helped Hermès hold its own as luxury brands start to lose their shine after a multiyear spending boom. It also announced it will expand the Saint Junien facility in New Aquitaine (also France) which makes Kelly and Birkin bags.

☆ Black Friday came early this year, signaling worries about holiday demand
▼ + stars: | 2023-11-17 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +5 min

Mario Tama | Getty Images News | Getty ImagesEarly Black Friday discounts were far higher this October compared to prior years, signaling retailers are concerned that demand could be tepid during the crucial holiday shopping season. Last year, about 30% of overall holiday sales happened online and other non-stores versus physical retail locations, according to the NRF. On average, 7.8% of all items were on sale at some point during the month compared to just 4.9% in 2019 and 3.3% in 2021. In Oct. 2022, prices were down just .7% compared to the prior year and in Oct. 2021, prices were up 1.9% compared to the prior year. The following year, when both inventories and inflation had grown and consumers were starting to feel the burn of high prices, promotions rose.

Persons: Barbie, Mario Tama, GlobalData, They're, it's, Daniel Rubin, John's University's Peter J, Brett House, we've Organizations: Walmart, Getty, Adobe Analytics, Adobe, CNBC, National Retail Federation Retail Monitor, ., Tobin College of Business, Columbia Business School Locations: Burbank , California, GlobalData

☆ Here's what analysts at major Wall Street firms expect from Apple's upcoming earnings report
▼ + stars: | 2023-11-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +5 min

The September quarter results will only encompass approximately a week of the iPhone 15 sales. AAPL YTD mountain Apple stock in 2023 The company will post its September quarter results Thursday after the bell. Take a look at what analysts are forecasting ahead of the company's announcement: Deutsche Bank trims price target Deutsche Bank reduced its price target on shares to $200 from $210. Morgan Stanley sees better-than-expected quarter results Morgan Stanley has an overweight rating and $210 price target on Apple. The company is leaning cautious on December quarter results due to iPhone supply shortages and consumer spending concerns.

Persons: Apple, Goldman Sachs, Michael Ng, Ng, We're, Morgan Stanley, Michael Bloom Organizations: Apple, Apple Watch, Deutsche Bank, JPMorgan, UBS Locations: China, U.S, Wednesday's

☆ Top Wall Street analysts remain optimistic about these five stocks
▼ + stars: | 2023-10-29 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +7 min

To that end, here are five stocks favored by Wall Street's top analysts, according to TipRanks, a platform that ranks analysts based on their past performance. Mahaney reiterated a buy rating on NFLX stock with a price target of $500. Baird analyst Colin Sebastian recently initiated a buy rating on CART stock with a price target of $31. SLBOilfield services company SLB (SLB), formerly Schlumberger, recently reported better-than-expected third-quarter adjusted earnings. Calling SLB a structural winner, particularly during pullbacks, Mehta reiterated a buy rating on the stock with a price target of $65.

Persons: Dado Ruvic, Wall, Mark Mahaney, Mahaney, TipRanks, roadmaps, Harlan Sur, Sur, Baird, Colin Sebastian, Sebastian, Instacart, SLB, Goldman Sachs, Neil Mehta, Mehta, Tesla Organizations: Reuters, Netflix, Nvidia, JPMorgan, TipRanks, Schlumberger, Saudi Aramco, United Arab Locations: Saudi, United Arab Emirates, Qatar

☆ Dollar Tree said theft is such a problem it will start locking up items or stop selling them altogether
▼ + stars: | 2023-08-24 | by ( David Goldman | ) edition.cnn.com time to read: +3 min

New York CNN —Dollar Tree had a miserable quarter, and company management is chalking it up to a mix of factors: changing consumer demands on top of higher prices for fuel and electricity … and theft. Shares of Dollar Tree plunged 10% on the news. Dick’s Sporting Goods this week also cited theft as a primary reason why its profit plunged last quarter, even though sales rose. Target warned earlier this year that it was bracing to lose half a billion dollars because of rising theft. And the summer heat has sent air conditioning costs through the roof; Dollar Tree said that, too, has hurt its bottom line.

Persons: Richard Dreiling, Jeffrey Davis, Davis, Dreiling, “, Kurt Petermeyer Organizations: New, New York CNN, Wall, OSHA, Dick’s, Goods, Walgreens Locations: New York, Atlanta, Lowe’s

☆ This little-known software company could rally more than 35%, says Canaccord Genuity
▼ + stars: | 2023-08-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Software-as-a-service company Freshworks has several positive catalysts ahead, according to Canaccord Genuity. He also increased his price target to $25 from $15. The new price target implies 37% upside from where shares closed on Tuesday. The company is "bringing it all together — [Go-to-market (GTM)] enhancements, operating efficiency, AI products and more," Hynes added. Freshworks' operating margins in the second quarter demonstrated significant upside and improved marketing and sales efficiency, Hynes said.

Persons: Freshworks, Canaccord, David Hynes, Hynes, Freddy Self, — CNBC's Michael Bloom Organizations: Service Locations: Freshworks

☆ An e-commerce expert says the 2 biggest mistakes Amazon sellers make are related to product selection — and shares 4 keys to picking a product that will help you get to profit as fast as possible
▼ + stars: | 2023-07-28 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

"There are two big mistakes that new sellers make," Tyler Walter, co-founder of product sourcing company 330 Trading, told Insider. "The second big problem we see young e-commerce brands make is trying to expand product categories way too fast." He offered four product selection tips to help you avoid the two most common pitfalls when launching an e-commerce business. Then, "tweak it slightly, start selling it, and prove that it actually works before you go and customize something that's totally new and innovative." Plus, you'll have an advantage if you're selling a product you understand well and use personally.

Persons: Tyler Walter, there's, Walter, Tyler Walter ., Tyler Walter Then, you've Locations: Taipei, Asia

☆ Nvidia is poised to pull away from peers ahead of semiconductor earnings this week, KeyBanc says
▼ + stars: | 2023-05-22 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

KeyBanc thinks its ambitious price target on Nvidia is warranted ahead of quarterly results on Wednesday. The firm reiterated a buy rating on Nvidia stock in an earnings preview note Sunday for semiconductor stocks. NVDA YTD mountain Nvidia stock. While supply constraints for graphic processing units could hinder near-term upside, Vinh says KeyBanc "anticipates investors will look through these concerns." KeyBanc forecasts Nvidia will report $6.56 billion in revenue and an adjusted 93 cents per share on Wednesday.

☆ Artificial intelligence is a $38 billion revenue opportunity for retailers. Here's how to play the trend
▼ + stars: | 2023-04-22 | by ( Michelle Fox | ) www.cnbc.com time to read: +15 min

Morgan Stanley estimates that in 2022, only 23% of the $4.3 trillion of U.S adjusted retail spending was online. Add in AI, which can drive better shopper experiences or better conversion, it could bump to 9% or possibly 10% CAGR, he said. Eventually, AI can help retailers pitch tailored products to each potential customer based on their prior history. You might see it in the member services experience in having a better opportunity to get customer support," he said. As retailers move ahead in their plans to integrate AI into their business, some will build the capabilities.

☆ Dollar General has close to 20,000 stores across the US. Here's how it keeps prices so low.
▼ + stars: | 2023-04-02 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +6 min

Dollar General sells items at 20% to 40% less than full-price retailers, with most under $10. Dollar General, one of the best-known discount chains, is growing rapidly and now has more than 19,000 stores across the US. Justin Sullivan/Getty ImagesDollar General leases – rather than owns – most of its stores, which helps it to keep costs down. According to a 2021 survey done by the nonprofit think tank, Economic Policy Institute, 92% of Dollar General workers earn less than $15 an hour. It has a limited assortment of groceries, though this is on the riseThe fresh food section at a Dollar General store.

☆ Family Dollar is making its shelves even taller so that it can fit hundreds more products in its 'chaotic' stores
▼ + stars: | 2023-03-05 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Family Dollar's stores are going to get even fuller as the chain makes its shelves taller. Family Dollar's stores are often cluttered. Family Dollar stores are already bursting full of merchandise. Dreiling, who took over as CEO in January, emphasized his desire to clean up Family Dollar and Dollar Tree's stores during the call. Dreiling discussed some plans to change the layout of Family Dollar's stores, including adding more cooler doors for frozen and refrigerated items.

☆ Shares of this little-known footwear company can rally more than 30%, Piper Sandler says
▼ + stars: | 2023-02-21 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

It's time to buy Caleres ahead of the footwear company's earnings next month, according to Piper Sandler. Analyst Abbie Zvejnieks upgraded shares to overweight from neutral following a preannouncement from Caleres earlier this month that bolstered her confidence in the footwear stock. Caleres shares are outperforming this year, up 16% in 2023, better than the S & P 500's 6% gain. The footwear stock did relatively well last year as well, falling more than 1% while the broader index dropped 19%. CAL 1D mountain Caleres shares 1-day —CNBC's Michael Bloom contributed to this report.

☆ Meet the typical Costco shopper, a 39-year-old Asian American woman earning more than $125,000 a year
▼ + stars: | 2023-02-02 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

The wholesale club has similar customer loyalty as other big box stores, and it adds more new customers than it loses. The average Costco customer is a 39-year-old Asian American woman who's married and earns $125,000, Numerator found. The store operates as a wholesale club, with nearly 119 million cardholders representing households and small and midsize businesses. Roughly one-third of US shoppers are Costco customers, according to data from the analytics firm Numerator prepared for Insider. The typical customer visits Costco on a weekend day every two weeks or so — about 30 trips per year — and spends about $100 per trip.

☆ GE Healthcare Plans to Reduce Debt and Costs, Pursue Tuck-In Acquisitions
▼ + stars: | 2022-12-08 | by ( Nina Trentmann | ) www.wsj.com time to read: +5 min

As a stand-alone company, GE Healthcare will also look to improve its working capital and lower logistics costs, Mr. Zodl said. GE Healthcare will also take a look at its real estate holdings and target over 100 sites, executives said. Ratings firms S&P Global Ratings, Fitch Ratings and Moody’s Investors Service have all given GE Healthcare an investment-grade rating. PREVIEWApart from reducing debt and costs, GE Healthcare will scout for potential tuck-in acquisition targets, Chief Executive Peter Arduini said. GE retains a 19.9% stake in GE Healthcare.

☆ Top Wall Street analysts say buy these stocks during a market downturn
▼ + stars: | 2022-11-27 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

This means investors need to shift their focus toward longer-term prospects instead of fixating on near-term gyrations in the market. See below for five stocks picked by Wall Street's top pros, according to TipRanks, a platform that ranks analysts based on their previous performance. However, after the company posted its quarterly results, Susquehanna analyst Christopher Rolland noticed that Nvidia is "getting back on track." This prompted him to reiterate a buy rating on the stock and raise the price target to $185 from $180. (See Marvell Stock Chart on TipRanks) Looking beyond the quarter, Rolland sees several upsides to Marvell.

☆ Bank of America makes Costco a top pick because of food inflation
▼ + stars: | 2022-11-22 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Bank of America named Costco a top pick because of rising food inflation, and expects shares have further upside from here. "We expect high food inflation to drive continued share gains for the warehouse club channel (including Costco) given the strong value proposition and price positioning on overlapping SKUs vs. mass and traditional grocery," analyst Robert Ohmes wrote in a Tuesday note. Costco has outperformed this year as rising inflation drove shoppers to buy lower-priced goods from the retailer. The analyst said he expects further price increases will continue to give Costco an edge. The analyst expects that Costco could increase its membership fee next year, which the retailer historically does every five to six years, according to the note.

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